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NUCLEAR METALS, INC. ANNOUNCES THIRD QUARTER FISCAL 1992 RESULTS

NUCLEAR METALS, INC. ANNOUNCES THIRD QUARTER FISCAL 1992 RESULTS
 CONCORD, Mass., July 16 /PRNewswire/ -- Nuclear Metals, Inc. (NASDAQ: NUCM), the Concord, Mass., based manufacturer of specialized metal products, today announced financial results for the third quarter ended June 30, 1992.
 Net income for the quarter was $348,000 or 15 cents per share on average shares outstanding of 2,294,664. This compares with a net income of $583,000 or 25 cents per share on average shares outstanding of 2,375,238 for the third quarter of fiscal 1991.
 Sales for the third quarter were $10,745,000 down from $13,700,000 for the third quarter of fiscal 1991.
 Net income for the nine month period was $646,000 or 28 cents per share compared to a net income of $1,176,000 or 50 cents per share for the same period a year earlier.
 Nine month sales were $33,192,000 compared to sales for the same period last year of $37,757,000. Backlog at the end of the third quarter was $15.7 million compared to fiscal year 1991 ending backlog of $10.4 million.
 As a result of projected business conditions resulting from declining defense budgets, NMI will reduce its workforce in Massachusetts and South Carolina by about 100 personnel during the fourth quarter. NMI, nevertheless, expects the fourth quarter to be profitable with fiscal year profitability being consistent with expected levels.
 NUCLEAR METALS INC.
 THIRD QUARTER FISCAL 1992 RESULTS
 Third Quarter Ended Nine Months Ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Sales $10,745,000 $13,700,000 $33,192,000 $37,757,000
 Net income 348,000 583,000 646,000 1,176,000
 Earnings
 per share 15 cents 25 cents 28 cents 50 cents
 Average Number
 of shares 2,294,664 2,375,238 2,306,854 2,371,351
 Backlog --- --- $15,656,000 $6,800,000
 -0- 7/16/92
 /CONTACT: Daral D. Ferguson, vice president of finance, Nuclear Metals, 508-263-3119/
 (NUCM) CO: Nuclear Metals ST: Massachusetts IN: MNG SU: ERN


CH -- NE021 -- 0013 07/16/92 17:22 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
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